March 25, 2026
RA Jainee
Tata Business Cycle Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 17.74 |
| NAV Bonus (Rs.) | |
| NAV IDCW (Rs.) | 17.74 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 6 |
| Benchmark | NIFTY 500 TRI |
| AUM Rs. | 2,695 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.58% |
| 1 Year Return (%) | -3.90 |
| 3 Year Return (%) | 15.70 |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 13.17% |
⚖️ Sahifund Review – SBI Contra Fund ✔
PLUS: Stability, track record, cost efficiency
✓ Tata Business Cycle Fund has delivered better 3-year returns than its benchmark and category average, showing decent cycle-based stock selection.
✓ The fund maintains a well-diversified 53-stock portfolio, which reduces single-stock risk despite being a thematic strategy.
✓ Its expense ratio of 0.58% is attractive for an actively managed thematic fund and works in favour of long-term investors.
✓ Allocation across large, mid and small caps is reasonably balanced, giving the portfolio flexibility across changing economic phases.
✓ Backed by the trusted pedigree of Tata Mutual Fund, which adds comfort for SIP investors.
✓ Suitable for investors who want to participate in sector rotation and business-cycle themes through staggered SIP investing.
MINUS: Large AUM, large-cap bias, momentum lag
⚖️ 1-year return of -3.90% shows weak recent momentum and indicates that the strategy has struggled in the latest market phase.
⚖️ While decent, the fund still lags stronger peers like ICICI Pru Business Cycle Fund on both 1-year and 3-year performance.
⚖️ Turnover of 58.01% suggests active churn, which can raise execution risk in volatile phases.
⚖️ As a business-cycle fund, returns depend heavily on correct sector timing, making it less predictable than diversified flexi-cap funds.
⚖️ Thematic exposure means investors may face higher volatility and temporary underperformance when market leadership changes abruptly.
⚖️ This is not an ideal “core portfolio” fund and should only be used as a satellite allocation if at all.
Sahifund View (Decisive Line):
A relatively better business-cycle fund in its category, but still best suited only for disciplined SIP investors who can handle thematic volatility and stay invested for the long haul.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Business Cycle funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks with a focus on riding business cycles for high returns
2. Aiming for long term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups and downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks to generate long-term capital appreciation by investing with focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
Fund Manager:
1) Hasmukh Vishariya
Education: Chartered Accountant
Experience: Prior to joining Tata MF he was associated with Star Union Dai-Ichi Life Insurance Ltd,
2) Rahul Singh
Education: Mr. Singh is B.Tech & PGDBM
Experience: Prior to Tata AMC, he has worked with Ampersand Capital Investment Advisors LLP, Standard Chartered Securities and Citigroup Global Markets India.
2) Murthy Nagarajan
Education: Mr. Nagarajan is a M.Com, ICWA and PGPMS.
Experience: Prior to joining Tata AMC he has worked with Quantum AMC as head fixed income, Mirae Asset Global Investment India Ltd.
3) Sailesh Jain
Education: Mr. Jain is a Commerce Graduate and an MBA.
Experience: Prior to joining TATA Mutual Fund, he has worked with Invesco Mutual Fund, IDFC Securities Ltd. as Head Derivatives, Quant Broking Pvt Ltd. as Vice President and IIFL(India Infoline) as Vice President.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0.5% for redemption within 30 days |
Basic Details of Tata Business Cycle Fund
| Fund House | Tata Mutual Fund |
| Launch Date | 4-Aug-21 |
| Return Since Launch | 13.17% |
| Benchmark | NIFTY 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 2,695 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.58% |
| (As on 28-Feb-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 58.01% |
Tata Business Cycle Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Tata Business Cycle Dir | -12.90 | -3.42 | -11.67 | -12.63 | -11.76 | -3.90 | 15.70 | — | — | — |
| BSE 500 TRI | -13.43 | -3.13 | -12.05 | -13.50 | -11.36 | -2.27 | 13.51 | — | — | — |
| Equity: Thematic-Business Cycle | -12.96 | -3.16 | -11.91 | -13.19 | -12.64 | -2.21 | 15.31 | — | — | — |
| Rank within category | 10 | 15 | 7 | 10 | 8 | 11 | 4 | — | — | — |
| Number of funds in category | 18 | 19 | 18 | 18 | 18 | 18 | 8 | 2 | 1 | 1 |
Peer Comparison of Tata Business Cycle Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Tata Business Cycle Dir | Unrated | -3.90 | 15.70 | — | 0.58 | 2,695 | 13.17 | 0.50 (30) | 4Y 7M | 58.01 |
| ICICI Pru Business Cycle Dir | Unrated | 2.61 | 19.88 | 17.44 | 0.73 | 16,202 | 18.30 | 1.00 (30) | 5Y 2M | 32.00 |
| Kotak Business Cycle Dir | Unrated | 1.57 | 15.98 | — | 0.63 | 3,054 | 12.58 | 0.50 (90) | 3Y 5M | 24.48 |
| HDFC Business Cycle Dir | Unrated | -5.83 | 11.15 | — | 1.07 | 2,650 | 8.49 | 1.00 (365) | 3Y 3M | 61.10 |
| Axis Business Cycles Dir | Unrated | -1.99 | 15.23 | — | 0.93 | 2,145 | 14.48 | 1.00 (365) | 3Y 1M | 84.00 |
Tata Business Cycle Fund Portfolio
| No. of Stocks | 53 |
| Top 10 Stocks | 37.73% |
| Top 5 Stocks | 23.25% |
| Top 3 Sectors | 63.25% |
| Portfolio P/B Ratio | 3.29 |
| Portfolio P/E Ratio | 28.71 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 121,249 | 127,675 |
| Giant (%) | — | — |
| Large (%) | 51.19 | 53.15 |
| Mid (%) | 26.40 | 24.25 |
| Small (%) | 22.41 | 22.59 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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